It’s hard to talk about a startup for a company founded in 2009. It now has no less than 1,800 employees and a presence in 22 countries. But that doesn’t stop HR Path from collecting record sums.
The company announced yesterday that it has raised the sum of 500 million euros to strengthen its development.
This round of funding is therefore the second largest fundraising by the French company this year, just behind Mistral AI and its €600 million. HR Path explains that it raised this amount from the Ardian investment fund, a French investment fund of the Axa group, from which it has been independent since 2013.
Continued acquisitions
HRPath is a company specializing in the human relations sector and offers:
- Consulting activity
- Implementation of HR systems
- Outsourced payroll services.
Therefore, the company works with several technology partners such as Cegid, Oracle, SAP and Workday, whose various solutions it integrates with its customers. The company also develops and offers its own range of human resource management software.
HRPath claims to have a global turnover of €215m with annual growth of 25%.
Mainly present in France for now
In his press release HR Path explains that it wants to use these funds to continue its international development and to continue its policy of external growth through the acquisition of companies.
HR Path explains that it has acquired 38 companies in 12 countries since 2009. HR Path’s future acquisitions will target markets considered “strategic”: the United States, Canada, Germany, the Nordic countries and Australia.
As reported by Le Monde although HR Path is already established in many countries, most of its revenue currently comes from the French market.